Principal Financial Group Inc. Has $125.57 Million Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

Principal Financial Group Inc. raised its holdings in shares of Synopsys, Inc. (NASDAQ:SNPS - Free Report) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 247,966 shares of the semiconductor company's stock after acquiring an additional 2,655 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Synopsys worth $125,568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SNPS. ORG Partners LLC raised its position in shares of Synopsys by 600.0% during the 2nd quarter. ORG Partners LLC now owns 42 shares of the semiconductor company's stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Pacifica Partners Inc. bought a new stake in shares of Synopsys during the 3rd quarter valued at $25,000. Tsfg LLC raised its position in shares of Synopsys by 75.0% during the 3rd quarter. Tsfg LLC now owns 56 shares of the semiconductor company's stock valued at $28,000 after acquiring an additional 24 shares during the last quarter. Chris Bulman Inc bought a new stake in shares of Synopsys during the 2nd quarter valued at $30,000. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Synopsys by 40.0% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 70 shares of the semiconductor company's stock valued at $35,000 after acquiring an additional 20 shares during the last quarter. Institutional investors own 85.47% of the company's stock.

Insider Transactions at Synopsys

In other news, CEO Sassine Ghazi sold 10,293 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $553.89, for a total transaction of $5,701,189.77. Following the completion of the transaction, the chief executive officer now directly owns 62,568 shares in the company, valued at $34,655,789.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.66% of the company's stock.

Synopsys Price Performance

SNPS stock traded down $12.04 during trading hours on Friday, reaching $561.55. 967,233 shares of the stock were exchanged, compared to its average volume of 1,067,591. The firm's 50-day moving average is $507.77 and its 200-day moving average is $544.81. The company has a market cap of $86.26 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 3.37 and a beta of 1.08. Synopsys, Inc. has a 12 month low of $457.52 and a 12 month high of $629.38.

Synopsys (NASDAQ:SNPS - Get Free Report) last released its earnings results on Wednesday, August 21st. The semiconductor company reported $3.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.15. Synopsys had a return on equity of 22.09% and a net margin of 24.06%. The firm had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same quarter in the prior year, the company earned $2.17 EPS. The company's revenue was up 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Synopsys, Inc. will post 9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SNPS. JPMorgan Chase & Co. upped their price objective on shares of Synopsys from $655.00 to $685.00 and gave the company an "overweight" rating in a research report on Thursday, August 22nd. Rosenblatt Securities restated a "buy" rating and issued a $635.00 price objective on shares of Synopsys in a research report on Friday, August 23rd. Mizuho began coverage on shares of Synopsys in a research report on Tuesday, October 22nd. They issued an "outperform" rating and a $650.00 price objective for the company. Berenberg Bank began coverage on shares of Synopsys in a research report on Tuesday, October 15th. They issued a "buy" rating and a $660.00 price objective for the company. Finally, Piper Sandler lowered their price objective on shares of Synopsys from $687.00 to $670.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Synopsys presently has an average rating of "Buy" and a consensus target price of $643.00.

Synopsys Profile

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.